EstateSalesNews.com has been honored by asking to speak at this years International Association of Appraisers conference.
We will be speaking about selling out the house and how to avoid the pitfalls of estate sales.
The conference this year is in Chicago, IL.
We will be addressing that conducting estates sales are a business, not a hobby.
Understanding the estate sale contract.
Why ISA (International Society of Appraisers).
What to do with left overs from estate sales and wearing three hats for one client.
We are excited to have this opportunity to speak about a subject we embrace and encourage and to such a prestigious group as the ISA.
Today is the start of another weekend of estate sales and their are thousands taking place across the country.
Please look at these websites for estate sales in your area.
Here is an updated checklist for estate sale contracts for estate sale companies and sellers.
We are not an attorney, but these items should be included and understood in the estate sale contract.
The estate sale contract should lay out in clear language.
- Name of the estate sales company
- Name of owner/s, heirs, or attorney
- Date of estate sale contract
- Address where the sale is to take place
- Dates the sale is to be held and time
- Dates the estate sale company will be given access to setup and price
- Any items excluded from sale on addendum when contract is signed
- Utilities – electric, plumbing, heating and air conditioning should be working
- Liability insurance for estate sale company
- Homeowner must have active homeowner insurance policy
- Ramifications of removal of items by sellers after contract is signed
- Fee or commission that will be charged if items removed or sold ahead by seller
- Cancellation clause of contract
- Party responsible for advertising and costs
- Who is responsible for obtaining and paying for any permits required
- Cost of sale, commission, fee, any additional sale related costs
- When seller will receive net proceeds and form of payment to be made
- Will seller receive written account of sold items and what it will or won’t include
- Who is responsible for the clean out when the estate sale is concluded
- If estate sale company cleans out any costs associated with clean out
- Any additional costs for appraisals or specific appraisals
- **If needed winter expenses and responsibility, i.e. plowing, shoveling, sand etc.
Visit the top of our front page for Choosing An Estate Sale Company.
Finding and hiring an estate sale company is becoming more involved as the number of estate sale companies continue to grow.
To find companies you can ask your attorney, ask your Realtor, look on estate sale company listing websites and look at estate sale companies who have memberships with estate sale associations and societies.
If you are asking a Realtor and they give you a recommendation ask them if they have any type of working relationship with them. Do they receive a referral fee? Your best interest is served when a real estate company refers you simply because they are familiar with your work and ethics and believe you can best handle the job for their clients.
If you are looking on estate sale listing websites, remember all these sites are paid by the companies on them and in most instances the listing company will provide several names of companies listed with them in your area. They do not have personal or direct knowledge of these companies.
Your attorney may be able to provide a recommendation based on previous experience with a liquidation company.
When you are trying to find an estate sale company, be sure to check for reviews online as well. Toss out the frivolous or silly ones (there are many of those) and be concerned with those who truly question business practices. If you are still interested in the estate sale company speak with them. Ask them about the review and what their side was.
Using several sources and your own research is the best way to find and hire an estate sale company.
Estate sale companies use research and knowledge to price your estate sale items. It is amazing what is found in estate sales that require research and where and how to conduct that research.
An experienced and knowledgeable estate liquidator friend recently shared information about luggage labels and baggage tags that have become collectible. The take away is knowing where and how to research these collectibles.
Gaining knowledge and more importantly knowing how to research items is important to both estate sale companies and sellers.
The experienced estate liquidator will conduct research by book, computer, auction catalogue results and networking with other estate sale companies. They will also consult with certified appraisers. Many estate sale companies keep an appraiser on retainer. Especially a CAPP (Certified Appraiser Personal Property).
Having the knowledge to know where and how to research is an important reason for hiring a professional estate sale company. The average seller just isn’t equipped with the knowledge or know how to properly price and advertise their sales. Many times money is lost because of lack of experience or where to research. It’s more than just eBay.
When choosing the right company to conduct your estate liquidation or downsizing sale ask about their experience and how they research. It’s your $$$$ that are at stake.
Today there are more than 15,000 estate sale companies working across America. Choosing an estate sale company should be about experience, reputation, reliability and integrity. The very last consideration should be commission or a fee.
Speaking with an estate sale company, asking to see referrals and conversing with them, reviewing their experience.
Seek out reviews on the internet and don’t hesitate to ask the estate liquidator about the reviews, especially those in question.
So many companies have come on line that it is now more important than ever to ask about their experience in the business, how they got into the business and why estate liquidations.
The very last question should be about commission and in the end this is not that important. If an estate sale company does a poor job a low commission won’t help you.
Like any other specialist, estate liquidators consider all their costs, plus the profit they need to make their living and the commission is usually based on that.
When choosing an estate sale company, choose by previous results with others, not what they want you to pay and make sure you sign an estate sale contract that covers everything. Success doesn’t just happened, it is earned and comes from knowledge. Be a savy consumer and choose wisely.
Removing hazardous waste items from estate sales is important and necessary with estate sales.
Hazardous waste items include leftover paint cans, chemicals, pesticides, motor oil, old television tubes and other items which require special handling and can not be put in a trash dumpster.
Sellers, if you are not taking these items with you, discard of them properly or ask the estate liquidator what they will charge to eliminate them.
Disposing of what is considered hazardous waste today is not an inexpensive process and most estate sale companies will now include a clause in their contract that deals with who will and the cost of hazardous waste disposal.
Matters that use to be so simple to deal with our now becoming more important and most times more difficult. As the result, many estate sale companies are adding to their contracts to cover these situations and prevent misunderstandings.
We would like to take this time to discuss the weather across the nation right now. In most areas of the United States severe rain, heavy snow falls, high winds, and in some cases tornadoes. Estate sale companies are constantly monitoring these situations.
We urge estate sale buyers to exercise caution attending sales and stay alert to weather conditions and estate sale company postings.
Be sure to check these estate sale listing websites for updates on estate sales in your area.